For it we need to understand Trademark Dispute in India and it's Processing.Trademark is Applied in India with different filing mode by Domestic/E-filing or International Route. E-filing is every easy and you can file it online with just Perquisite of DSC Digital Signature can be get in hours and apply in minutes
International Route based different agreement which India is part of it, it is slow but make your case more strong. And opposition very weak.
But On 29/10/2019 PS5 is already Applied by HITESH ASWANI and be on Advertisement window from 20/01/2020 for class 28. In India Processing takes a title bit times as first 6 month need adverting for public so anyone can submit oppose application. There Sony see and oppose it on 16/04/2020. But interestingly Hitesh Oppose them back for their application on 16/09/2020.
Sony Other PS5 International Application on objection which was in hearing may be because there is already 2 PS5 application fighting may be but this is International Application with probably better paperwork good chance it will clear. But happen on what happen on hearing of it.
Hitesh mentioned it for Arcade game and Toys related, It kind of feel Shady but he file first so he have a advantage but whole world know there will be next PS5 and 3-4 year later there is PS6. Now both have to file reply for Opposition as there has some time buffer so it takes almost 6 month and if process go for more time it can go for 1 year as next it will Court Hearing and India Court take their time.
Trademark has these issue if you apply for it you can get almost used for more then 1 year as it just needed your application listed then you can use you Trademark with ™. Abandoning Trademark takes times as you applies for Trademark you can use trademark. So many people apply for Trademark for temporary use and reply a oppose in long time as possible and used Trademark for more then 1 year and takes upto 2 years.
You can see the here and search for class 28 and PS5 for latest update.
Sony Still Can sale there PS5 but if they lose they have to rebrand everything and sale in different name but only if they lose which is highly unlikely. But at-least for some time they can sale as much they can, Sony is playing safe right now. As recently Asus lost a Trademark battle with Zen Mobile and lost there Zenfone and after that they change Zenfone 7 to 7z and remove Zenfone name from their mobiles. But at same time Asus not have good defense as Zen mobile already in India when Asus Came and defense made on court is Zen is Generic name so please allow the.
Sony Win as Predicted but here they settle outside of court , And here i am thinking of some court battle.